Arab Today, arab today oldest swiss bank to close down after charges
Last Updated : GMT 12:19:39
Arab Today, arab today
Arab Today, arab today

Wegelin accused of aiding tax evasion

Oldest Swiss bank to close down after charges

Arab Today, arab today

Arab Today, arab today Oldest Swiss bank to close down after charges

Swiss bank will close down its operations after US the country's oldest lender
St. Gallen - Arabstoday

Swiss bank will close down its operations after US the country\'s oldest lender Swiss bank Wegelin has said it will close down its operations after the end of US court procedures against the country\'s oldest lender. The bank has pleaded guilty to charges of aiding large-scale tax evasion. The oldest Swiss bank, Wegelin , said it would soon shut its doors permanently after more than two and a half centuries of its existence as a private lender.
The announcement came after the bank pleaded guilty in US District Court in Manhattan to a string of charges of assisting Americans in evading taxes though secret accounts. The move marked a turning point in a battle by US authorities against Swiss bank secrecy.
\"Once the matter is finally concluded, Wegelin will cease to operate as a bank,\" the lender said in a statement released by its headquarters in St. Gallen.
The DAPD news agency reported on Friday that Wegelin had agreed to disclose the names of US clients and their account details, should US investigators request them for follow-up tax evasion trials.
Wegelin conceded it had aided Americans in dodging taxes on at least $1.2 billion (€907 million) between 2002 and 2010. The bank agreed to pay 457.8 million euros to the United States in restitution and fines.
The fate of three Wegelin bankers who were indicted by US authorities in January of this year remains unclear. Under criminal procedural rules, the cases against Michael Berlinka, Urs Frei and Roger Keller are still pending.

Source: Deutsche Welle

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oldest swiss bank to close down after charges Arab Today, arab today oldest swiss bank to close down after charges

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oldest swiss bank to close down after charges Arab Today, arab today oldest swiss bank to close down after charges

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday